Creekmur Asset Management LLC Has $197,000 Position in Truist Financial Corporation $TFC

Creekmur Asset Management LLC boosted its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 29.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,580 shares of the insurance provider’s stock after buying an additional 1,040 shares during the period. Creekmur Asset Management LLC’s holdings in Truist Financial were worth $197,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TFC. Victory Capital Management Inc. boosted its stake in Truist Financial by 922.9% during the first quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider’s stock worth $274,237,000 after buying an additional 6,012,817 shares in the last quarter. Invesco Ltd. boosted its stake in Truist Financial by 32.0% during the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after buying an additional 3,188,999 shares in the last quarter. Nuveen LLC acquired a new stake in Truist Financial during the first quarter worth $117,929,000. American Century Companies Inc. boosted its stake in Truist Financial by 21.8% during the first quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock worth $495,509,000 after buying an additional 2,158,639 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in Truist Financial by 178.0% during the first quarter. National Bank of Canada FI now owns 2,289,868 shares of the insurance provider’s stock worth $94,228,000 after buying an additional 1,466,236 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Truist Financial stock opened at $44.68 on Friday. The stock has a 50-day simple moving average of $45.04 and a 200 day simple moving average of $42.78. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The stock has a market capitalization of $57.61 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 1.20 and a beta of 0.88.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. During the same period in the previous year, the business posted $0.97 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, research analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, November 14th. Truist Financial’s payout ratio is currently 55.91%.

Analysts Set New Price Targets

Several research analysts have issued reports on TFC shares. Piper Sandler set a $48.00 price objective on Truist Financial in a research note on Monday, October 20th. Morgan Stanley increased their price objective on Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday, October 8th. Finally, Evercore ISI increased their price objective on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial Company Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.